The MLM business always thrives in a poor economy, which may seem counter-intuitive but is nevertheless true. Many people who had previously shunned the MLM industry are now joining in significant numbers. The question is, why now?
Most people these days are already overwhelmed with their day jobs and scraping together enough money to cover the bills, so it doesn't make sense that they would add a new business to their already overloaded schedule. Yet they are, and for good reason.
Why Even Former MLM Snobs Are Doing the Business
1. MLM is Supported by Major Business Figures
Did you know that investing guru Warren Buffett owns several MLM companies, including Pampered Chef? Did you know that best-selling authors and well-known businessmen Robert Kiyosaki (author of bestseller Rich Dad Poor Dad) and Donald Trump wrote a book supporting this industry? In fact, Donald Trump believes in it so much he recently launched his own MLM company. The MLM industry, formerly the king of scams and schemes, has grown up and become a solid business proposition.
2. When Cash is Tight, MLM is Inexpensive
In this cash-poor economy, an MLM business has one of the lowest startup costs and overhead of any business. Rather than buying a franchise or investing in other companies, many small business owners are joining MLMs and operating these businesses in their homes, which keeps the overhead low and increases their tax advantages. On average, small business owners are spending $350 to $500 to start their businesses, and roughly $200 to $400 per month the run it. Although it may not produce income right away, most who consistently work their business earn a passive income, over and above their expenses, within 6 months to 2 years.
In this economy every penny counts so even a small income stream will pay off. Did you know that last year 91% of foreclosures could have been prevented with $500 additional income per month? Plus, according to Dun and Bradstreet, 95% of all businesses close because of lack of cash. Many small business owners are realizing that investing in an MLM business is a smart investment for the near future.
Plus, click here find out why even a small MLM commission check of $200 is equivalent to having almost $50,000 in the bank.
3. MLM Helps You Claim Additional Tax Advantages
Sometimes cash comes not in the form of greenbacks, but in the form of taxes that you don’t have to pay. Most people are in a catch-22 when it comes to taxes. If you are like most people, when it comes to taxes you are damned if you do, and damned if you don't. For instance, if you make a good living, the IRS will tax you heavily, cutting deeply into your take-home pay. If you don't make a good living, you don't get heavily taxed but your take-home pay sucks. Doesn't seem fair does it?
Many people are caught in the same situation, but they can change that by starting an MLM business in their homes. If you own and operate an MLM out of your home, you can hire your children (7 years or older) to work in the MLM business, and claim that child’s wages (translation: allowance) as a tax deduction. You can claim additional square footage in your house for office use and deduct that from your taxes. You can deduct her commuting miles between home and business round trip. You can vastly increases her ability to deduct certain kinds of expenses, which ultimately means your take-home paycheck from your regular job, after taxes, is much larger. Now isn't that a creative way to generate dollars?
The Conversation is Just Beginning
There are a lot more advantages than can be listed here for you to start your own MLM business. This is just the start of the conversation. MLM isn't the same scammy industry it used to be, just as the economy isn't the goldmine that it used to be.
If you are looking for a way to create a new stream of income, consider MLM. These days, an open mind can lead to a healthier checkbook. To learn more about how MLM can create a new income stream for you, consider these resources:
Phone Chat with a Warm Body
Read the MLM blog
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